Dated :- 26.02. 2017                                 NIFTY SPOT : 8939.50

Hi readers,

Nifty has moved up in the last week and made a high of 8982 and closed at 8939.50

In spite of the fact that Nifty is stretched on smaller and daily charts still it is moving up. This is a sigh of strength.

Nifty has gone up in previous week and the readers of the blog would be sitting on the side lines as we were not interested to play the upside in previous week as it was supposed to be risky.

That was why I had mentioned in my previous blog that sell only on the sign of weakness. That sign never came in the previous week. The sign of weakness wass below 8780 only. Today when we are standing at 8939 that level of 8780 is far away. Thus as on today Nifty seems to be crawling up slowly.

Now What -

Frankly speaking the coming week is dicey and important one.

Because the kind of set up Nifty is having now, it is important to see, that, whether Nifty closes above 8903 on Tuesday or not.

In the coming week I will look for buying possibilities till Nifty is above 8880 with the stop loss of 8856.

And in the coming week I will like to take each day as a fresh day. Means I would like to close the position on the same day.

 Because in the coming week many levels are coming and becoming important. As till it is above 8880 try to buy. Also I want to see that whether Nifty is closing above 8903 on Tuesday or not etc. etc.

I believe that the coming week should be volatile and important. Nifty is showing strength that too when it is stretched. It is a rare phenomenon.

Thus take each day as a fresh day.

Because below 8880 smaller time frame charts can also force Nifty to give correction as it is stretched.

In Nut shell, till Nifty is above 8880 in the coming week look only for buying possibilities for small profits and close the position same day. And below 8880 look for small selling possibilities and close the position on same day.

After Tuesday if Nifty give close slightly above 8903 say upto 8920 around level and then after that goes below 8880 then in that scenario when readers will be looking for small selling possibility then they can hold that sell position with the stop loss of 8920. Provided that the day it goes below 8880 after Tuesday it should also close below 8850 on the same day.

Difficult week to trade into, but to be on the right side remember the level of 8880 as a trend decider level for Nifty till Nifty is above it do not try to sell and below 8880 refrain from buying.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.